Ping An ups sustainability credential with leading index inclusion
Finance and fintech conglomerate becomes first Chinese insurance company to be selected in Dow Jones Sustainability Emerging Markets Index
Back in June, Ping An, the Shenzhen-based finance and fintech conglomerate, said in its half-year report it was turning its attention to sustainable development and embedding it as a core strategy of the group.
The pledge has obviously resonated as Ping An has now been selected for the 2019 Dow Jones Sustainability Emerging Markets Index (DJSI).
The inclusion in the industry benchmark makes Ping An the first insurance company from mainland China to be selected in the index.
The DJSI is among the longest-running global sustainability benchmarks worldwide and has become a key reference point in sustainability investing for investors and companies alike.
Launched in 1999, DJSI was the first index to track the sustainability of global listed companies. It is widely respected in the capital market and is a leading sustainability index for large international institutional investors. This year, only two companies from mainland China were selected for the DJSI.
Ping An’s “sustainable development model” is focused on the group’s business ethics, the environmental impact of the rapidly expanding business and its social impact.
Showing how serious it is about the issue, the responsibility of ensuring compliance with the lofty declarations of sustainability starts at the top.
The board of directors and group executive committee have oversight of all ESG issues. For now, Ping An claims it is responding to global warming by reducing carbon emissions and energy consumption and is working toward environmental sustainability through low-carbon businesses and green operations.
Ping An vowed that all new buildings of the group will attain China’s Green Building Label (2-star) or equivalent LEED certification and it will renovate older buildings to obtain green building certificates by 2020.
Taking 2018 as the base year, Ping An is also committed to reducing carbon emission intensity by 5%, 10% and 20% by 2020, 2025 and 2030 respectively.
The group, which is known for its pervasive use of cutting-edge technology, also promised to virtually eliminate its paper use, saying it will reduce that by 50%, 60% and 80% over the next three, five and ten years respectively.
Commenting on the news of the firm’s inclusion to the index, Richard Sheng, board secretary and brand director of Ping An, says, “Ping An aims to achieve mutual sustainable development with all of its stakeholders. We want to be a force for good for sustainable development in China and other parts of the world.”
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